The Mercedes F1 Team has confirmed it has secured a “long term extension” to its naming rights partnership with Petronas, Malaysia’s national oil and gas company.

Although made during the Monaco Grand Prix weekend, the announcement, however, could not have been more poorly timed given the major PR disaster that is the rift between Lewis Hamilton and pole-winner Nico Rosberg.

The announcement was made in a joint media conference headed by Tan Sri Dato’ Shamsul Azhar Abbas, Petronas President and Group CEO, Dr Dieter Zetsche, Chairman of the Board of Management, Daimler AG and Head of Mercedes-Benz cars, and Toto Wolff, Head of Mercedes-Benz Motorsport.

“It is a proud moment to further extend this agreement and build towards a decade of partnership between Mercedes-Benz and Petronas,” Wolff said.

Petronas joined Mercedes as its title sponsor in 2010 when the Silver Arrows made their return as a full works outfit after an absence of over fifty years.